Hungary Industry November 2016

Hungary: Industrial output expands in November

January 6, 2017

According to preliminary data released by the Statistical Institute (KSH) on 6 January, Hungary's industrial output in November rose a working-day adjusted 0.6%, contrasting the 2.1% contraction observed in October and marking the first expansion in three months.

On a monthly basis, industrial production decelerated from a seasonally- and working-day adjusted 2.0% expansion in October to 0.9% growth in November. The overall trend continued to point downward as annual average growth in industrial production nosedived from 1.7% in October to 1.2% in November, marking the lowest reading in three years.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.0% in 2017, which is unchanged from last month’s projection. For 2018, the panel expects industrial output to expand 4.7%.

According to revised data released by the Statistical Institute (KSH) on 11 August, industrial output rose a working-day adjusted 6.5% year-on-year in June, which was a slight acceleration from May’s 6.2% expansion.

According to revised data released by the Statistical Institute (KSH) on 12 July, industrial output in May rose a working-day adjusted 6.2%, which marked a considerable improvement from April’s 2.5% expansion.